Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings a b. C. 2025 2024 $29,700 $34,800 54,700 45,400 65,300 45,000 15,100 25,200 89,600 75,800 (17,920) (7,900) 70,500 39,700 $306,980 $258,000 Net Cash provided Net Cash used Net Cash used $64,400 15,100 -0- 30,200 $51,400 17,800 23,200 $306,980 Land was acquired for $30.800 in exchange for common stock, par $30,800, during the year; all equipment purchased was for cash. Equipment costing $12.900 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. 187,400 156,600 9,880 Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) -0- 9,000 $258,000 by operating activities. $ by investing activities. $ by financing activities. 383900

Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings a b. C. 2025 2024 $29,700 $34,800 54,700 45,400 65,300 45,000 15,100 25,200 89,600 75,800 (17,920) (7,900) 70,500 39,700 $306,980 $258,000 Net Cash provided Net Cash used Net Cash used $64,400 15,100 -0- 30,200 $51,400 17,800 23,200 $306,980 Land was acquired for $30.800 in exchange for common stock, par $30,800, during the year; all equipment purchased was for cash. Equipment costing $12.900 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. 187,400 156,600 9,880 Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) -0- 9,000 $258,000 by operating activities. $ by investing activities. $ by financing activities. 383900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Condensed financial data of Sheridan Company for 2025 and 2024 are presented below. Cash Receivables Inventory Plant assets Sheridan Company Comparative Balance Sheet As of December 31, 2025 and 2024 Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 2025 $1,780 1,760 1,620 1,910 1,670 (1,210) (1,160) 1,330 1,440 $7,190 $6,280 $1,230 210 2024 $1,170 1,370 1,920 2,460 $7,190 1,280 1,880 $920 250 1,560 1,680 1,870 $6,280
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